MMC Norilsk offers $8.7bn to acquire stake in UC Rusal

25 August 2011 (Last Updated August 25th, 2011 18:30)

Russian firm MMC Norilsk Nickel is planning to acquire a 15% stake in UC Rusal Investment Management for $8.7bn. MMC Norilsk has offered to purchase 28.5m ordinary shares from UC Rusal Investment Management, for $306 per share, based on the recommendations of independent investment bank.<

Russian firm MMC Norilsk Nickel is planning to acquire a 15% stake in UC Rusal Investment Management for $8.7bn.

MMC Norilsk has offered to purchase 28.5m ordinary shares from UC Rusal Investment Management, for $306 per share, based on the recommendations of independent investment bank.

The offer price represents 20% premium to weighted average market price for the last six months.

MMC Norilsk will receive all relevant permits from regulatory bodies if the offer is accepted by UC Rusal.